FSA: Mortgage disclosure will focus on written and oral 'key messages'

This means use of the initial disclosure documents (IDD) will be scrapped but firms can still use them as the basis for communicating with clients and conveying the key messages if they wish. In its consultation paper on MMR proposals, the FSA says information about a firm's remuneration options and the scope of its service will have to be given in the initial contact between the firm and consumer. Initial service disclosure requirements for firms will also have to be provided in a durable medium to protect consumers. The FSA says: "It is also intrinsically in a firm's interest to ...